Do you need a credit card to study in the United States?

It is natural that money is indispensable for studying in the United States. Before leaving, many students will have questions. Do they need to get a credit card in China and bring it to the United States? Can international students apply for a bank card when they arrive in the United States? What should I do? Let's talk about whether to apply for a credit card to study in the United States.

1. Do international students need to apply for a credit card in China and bring it to the United States?

Domestic credit cards can be taken away, even if they are taken away, they should be used as little as possible.

The main reason is that when international credit cards or debit cards made in China are used abroad, even if the handling fee is very low, the cardholder has to bear the loss of foreign exchange trading price difference caused by each transaction. Second, opening your own bank account and handling your own credit card as soon as you arrive in the United States will be beneficial to your future life and even work.

2. Can international students apply for a bank card?

Of course, international students can apply for bank cards in the United States.

The most commonly used bank cards in the United States are debit cards and credit cards. Generally speaking, you can apply for a debit card within one week after you arrive in the United States, and you can apply for a credit card after you get the SSN number. Debit card is the main bank account commonly used by international students and new immigrants. Debit card accounts are divided into two categories-checking accounts and savings accounts.

(1) current account

A checking account is equivalent to a domestic current account and can be accessed at any time. Generally, the interest-bearing checking account will require the account to be kept above a certain amount, otherwise it will charge tens of dollars for account maintenance every month. International students are advised to open an interest-free checking account. Generally, there is no or very low requirement for the balance of the account.

The main function of checking account is consumption, so there is generally no interest. Users can use this account to pay tuition, telephone bills, online shopping and write checks. After opening an account, you will be given an ATM card (equivalent to a domestic debit card), and you need to enter a password when swiping the card.

In the United States, online banking is very common in life, such as online shopping, ordering food, takeaway, booking tickets and so on. In the United States, bank cards generally come with online banking after opening, and there is no need to apply for or install any software.

When a user opens a new checking account, many big banks will give away some checkbooks. In China, people may have fewer opportunities to use checks, but in the United States, checks are very convenient and safe, because your name and information will be printed on the checks, and many banks will check the signatures, so it is rare to sign checks. Moreover, if the check is sent to the other party, the name of the payee will also be on the check, so there will be no fraudulent use. In America, checks can almost be used as cash. For example, you don't need to bring a lot of money to go shopping, just bring a check.

(2) savings account

As the name implies, a savings account is to deposit temporary cash in the bank to earn a little interest (the annual interest rate in the United States is generally 2.5%-6%). Different banks have different interest rates in different periods, and usually have requirements on the amount and deposit period.

Savings accounts are not often used for consumption, because general consumption is drawn from your checking account. If the balance of your checking account is insufficient and there is money in your savings account, it is generally impossible to withdraw it. You must log in to the online bank of each bank and transfer the money in the savings account to the checking account before you can pay. You can choose which account to deposit according to your own situation.

If you are worried that you need money temporarily after you arrive in the United States, you might as well open a checking account and a savings account, and put a small amount of money in the checking account for normal use. In case of urgent need or running out of money, you can transfer the money from the savings account to the checking account. Multiple accounts opened by a depositor in the same bank can be embodied in an ATM card and can be operated at will on the ATM machine.

3. What materials do I need to open an account in an American bank?

The materials needed to open an account in an American bank mainly include:

Valid identity documents: passport, American driver's license, bank card, work permit, American identity card (which can be handled by the vehicle management office), etc.

Proof of study: Student ID (and I20)

Valid residence certificate: rental contract, valid documents include residence, telephone number, work unit or school, etc.